Banking Technology Home

The Cost of Downtime

The Cost of Downtime

In the banking and financial industry, systems must be available almost every second. Systems downtime will cost a bank plenty in lost revenues and damaged reputation.

According to Gartner Research, the cost of downtime are:

  1. Productivity Loss
  2. Revenue Loss
  3. Damaged Reputation
  4. Impaired Financial Performance
  5. Other Expenses

The solution is to implement a high availability IT infrastructure. The whitepaper "Guideline to Design a Highly Available Infrastructure" by Manoj Madhavan of Wipro Technologies suggests the following process:

Process About
Business Requirements Identification Impact on outage and dependency on systems
Availability Requirements Identification Service levels and outage recovery time
Architecture Design Redundancy and identify points of failure
Component Identification Products and tentative costs
Bill of Material Creation Detailed product components and actual cost of products

Related Websites

Links to other information technology banking resources.

Information Technology for Banks

Banking Technology - Resource for Banks and Financial Institutions
Online resource on information technology solutions for banks and financial companies. Buyer's guide to banking applications, crm, risk management systems and more.